Euler Finance Attacker Returns 3000 ETH, EUL Rises 80%

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Euler Finance exploiter sent 3000 Ethereum (worth $5.4 million) to the Euler deployer address in batches of 1000 ETH on March 18, according to on-chain data.

Blockchain analytical firm Arkham intelligence reported the transactions. The firm added that the user who got 100 ETH from the exploiter also returned the excess to the DeFi project’s deployer address.

Euler Exploiter Transactions (Source: Arkham Intelligence)

The project developer Euler Labs was yet to comment on the returned funds as of press time.

Euler Exploiter Transactions Sends Mixed Signals

Since the March 13 exploit, the hacker has carried out a series of strange transactions, including returning 100 ETH to a user and sending a similar amount to the Ronin Bridge hacker.

The transactions to the Ronin Bridge hacker birthed speculations that the hack might be connected to the North Korean-backed hacker group Lazarus. However, on-chain sleuth ZachXBT posited that the hackers were “trolling with that transaction.”

At the same time, the hackers have also tried to obfuscate their transactions by sending 1000 ETH through the Tornado Cash mixer on March 16. These transactions have sent mixed signals about the hacker’s intentions, with many arguing that he is willing to return the funds while others argue against this.

Meanwhile, the DeFi protocol has offered a $1 million bounty to anyone that provides information that leads to the hacker’s arrest and the stolen funds’ return. Euler Labs CEO Michael Bentley tweeted that he would never forgive the hacker because the incident has made him sacrifice the time he should spend with his newborn son.

EUL token Rallies 80%

Euler Labs’ EUL token has risen by more than 76% in the last 24 hours to $3.15 at the time of writing, according to BeInCrypto data. The EUL token had plunged by more than 48% following the March 13 exploit.

Euler EUL Price Performance
EUL Price Performance (Source: BeInCrypto)

However, the recent market rally has improved sentiments surrounding the token. Over the last 24 hours, Bitcoin has risen above $27,000 while other digital assets like Ethereum have also grown by more than 5%.


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